Sobatai

The correct name for the OldCo is "The Rangers Football Club plc".

You're missing that Mr di Stefano is only interested in the OldCo ... that's what he is bidding for.

I have to confess to some disappointment that there is no mention of that holiest of holies for Scottish football "sporting integrity" in the statement.

Okay, so Mr di Stefano expects Charles Green to take an immediate £1 hit on his investment? Personally, I would think that as soon as the CVA crashed and burned that "deal" was nullified and Green wrote off his couple of quid.

Taken from the Duff and Phelps interim report:

It certainly seems as if he is doing no real harm. You just have visions of someone at the FA taking a telephone call, putting him on hold and having the following conversation with the boss: Receptionist: It's that nutcase from Scotland again. Boss: Who? You'll have to be more specific. There's a lot of nutcases in Scotland. Regan, Doncaster? Receptionist: That Gio-what's-it bloke, keeps asking about Rangers. Boss: Oh, him, just tell him yes, fine, whatever. Receptionist: Hello, sorry to keep you, yes, no problem at all.

Would his "bid" not be taken more seriously if he had written it in English rather than unintelligible gobbledegook?

If anyone thought John Brown was loopy, I dread to think what that makes this character. OldCo Rangers, that he is bidding for, still has Rangers FC Group as its major shareholder. And as such he would have to reach an agreement with Craig Whyte to transfer his shares.

What the fuck is that supposed to mean? It makes no sense whatsoever.

There was a set of minutes posted in here and the impression I had when reading them was that the board and Charles Green had addressed various concerns to the satisfaction of most present, with the notable exception being Mr Brown. I certain recall that it was the considered opinion of Charles Green that his best friend forever (as Brown seems to see it) Craig Whyte was likely to be the subject of criminal prosecution over his time at Rangers.

Just to add that an interesting item in the interim report of Duff and Phelps is that the court date set for October has been dropped, in large part, it seems, because Collyer Bristow have indicated that they intend to take legal action against Craig Whyte. A new date is expected to be set for the summer or autumn of 2013. It seems that reading the last rites of the OldCo will be a slow process.

As for the new bankers being "as corrupt as they come", well, you could say that about Barclays and who would argue with you?

I doubt whether there ever will be a bid. The bid rests of popular support and that is draining away, which is probably why there is this meeting on Sunday. A desperate attempt at rabble rousing. Brown, as far as it appears to me, is the self-appointed leader of a buyout by fans. Without the backing of the fans he has nothing.

I would be ... BDO have bigger fish to fry. BDO's remit will be to nail Craig Whyte. By the way, I note in the bumph that SDM resigned in August 2009. I gather that the liquidators have powers to go back three years in their investigations, so I would assume that if the OldCo doesn't formally enter liquidation before August 2012 then SDM is in the clear.

I found this bit interesting:

I'd be astonished if the trademarks weren't part of the asset sale ... as he notes, they are probably the assets with the most value.

That is an interesting point, but one would assume that the trademarks and other such intangible assets of the OldCo, such as the name Rangers FC, would be part of the asset sale to Sevco.

That was to do with the time pressure of football and maintaining Rangers FC plc as a going concern than there being a "time limit" on arranging a CVA. Remember, at the time the players were about to return to their full contract payments and the OldCo was running out of funds, in addition to the new season rapidly coming over the horizon. Now, the OldCo is just sitting around awaiting its fate.

Well, he could try, but frankly I doubt anyone is paying too much attention to the OldCo these days ... it's just an empty shell with a mountain of debts. It is doubtful whether Duff and Phelps are spending more than a couple of hours a week on it. But any bid for the OldCo would have to go through the same process of trying for a CVA or paying the debts to the satisfaction of the creditors. And Miller's plan of bringing the two entities back together was dependent on the OldCo eventually achieving a CVA.

Very. That comment regarding a valuation of the club was reported in a thread about the minutes on this forum and it aroused minimal interest. The quotes of Ally McCoist seem to have been taken out of context as well. Shameful journalism.

Well, your season ticket money is what he intends to buy the club with ... that's what a "fan buyout" is all about. Not sure he's thought about how to fund the club when all the season ticket money has gone to buy it. I guess everyone will have to buy one of those too.

The curious thing is that he ridicules the thought that Sevco got the assets for £5.5 million, presumably believing them to be worth much more and yet Messrs McColl and Park only bid a further £0.5 million. Now, if it had gone to the Walter Smith fronted bid of Messrs McColl and Park would he having been making this song and dance? Would he have tweeted something like: "Walter Smith gets the assets of RFC for £6 million ... yeah, right"?

In fairness, I don't blame the players for walking. But some of their earlier tub-thumping about how they loved the club has left them open to the criticism that they have received.

In addition, John Brown seems not to realise that the assets of Rangers FC plc were worth very little. Yes, Ibrox might have a value of £112 million in the books, but that's not its market value. I believe Duff and Phelps gave Ibrox a market value of next to nothing. What can anyone so with Ibrox? Only the certifiably insane would consider developing it, given the likely public reaction. What about the players contracts? Well, as has been shown, they weren't worth much ... Green can huff and he can puff, but I suspect that he's going to get nothing for his trouble.

As there was no legal challenge to the asset sale, it's hard to see what hold Whyte can have over the substantive assets of Rangers.